HB Exclusive: Greysteel arranges $19.4M refi

Greysteel, a national commercial real estate investment services firm, arranged the $19.4 million refinancing of a dual-branded Home2 Suites by Hilton Brunswick and Hilton Garden Inn Brunswick in Brunswick, GA.
The 175-key hospitality property, originally constructed in 2019, is located off Interstate 95, near the Port of Brunswick and the city’s downtown area. Brunswick is a market known for its diverse demand drivers, including government contract demand.
Stephen Haase, director at Greysteel, led the refinancing efforts on behalf of Newport Hospitality Group, securing favorable terms for a 3-year floating-rate loan with a 225-basis-point spread over the 3-month term SOFR. Greysteel tailored a refinancing solution that positioned Newport for long-term success and financial flexibility, while also addressing potential financial risks as they approached the February 2025 loan maturity, according to the company.
“By working closely with both the borrower and lender, we were able to structure a refinancing solution that allows flexibility while taking advantage of recent favorable interest rate movements,” said Haase. “Newport’s ability to manage a top-tier asset in this market allowed our team to pursue aggressive terms from a variety of capital sources and ultimately drive a competitive process to ensure we received below-market terms. The borrower’s decision to plan well ahead of their February 2025 maturity date also worked to our favor as we were able to patiently navigate the capital markets and execute when the time was right.”
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